Geneos Wealth Management Inc. Buys 1,099 Shares of Akamai Technologies, Inc. (NASDAQ:AKAM)

Geneos Wealth Management Inc. lifted its stake in Akamai Technologies, Inc. (NASDAQ:AKAM) by 17.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 7,273 shares of the technology infrastructure company’s stock after purchasing an additional 1,099 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Akamai Technologies were worth $791,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in AKAM. Planned Solutions Inc. purchased a new stake in shares of Akamai Technologies during the fourth quarter worth about $37,000. Headinvest LLC purchased a new stake in shares of Akamai Technologies during the third quarter worth about $40,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Akamai Technologies during the fourth quarter worth about $43,000. Bruce G. Allen Investments LLC purchased a new stake in shares of Akamai Technologies during the fourth quarter worth about $44,000. Finally, Lindbrook Capital LLC grew its holdings in Akamai Technologies by 43.7% during the 4th quarter. Lindbrook Capital LLC now owns 411 shares of the technology infrastructure company’s stock valued at $49,000 after buying an additional 125 shares in the last quarter. Institutional investors own 94.28% of the company’s stock.

Analysts Set New Price Targets

AKAM has been the subject of several research analyst reports. Raymond James cut their price target on Akamai Technologies from $138.00 to $115.00 and set an “outperform” rating for the company in a report on Friday, May 10th. Royal Bank of Canada cut their price target on Akamai Technologies from $115.00 to $92.00 and set a “sector perform” rating for the company in a report on Friday, May 10th. Needham & Company LLC reiterated a “hold” rating on shares of Akamai Technologies in a report on Friday, May 17th. Scotiabank began coverage on Akamai Technologies in a report on Monday. They issued a “sector outperform” rating and a $110.00 target price for the company. Finally, Susquehanna dropped their target price on Akamai Technologies from $150.00 to $135.00 and set a “positive” rating for the company in a report on Friday, May 10th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $113.76.

Akamai Technologies Trading Up 0.3 %

Shares of AKAM stock traded up $0.32 on Thursday, reaching $94.10. 1,425,870 shares of the company’s stock were exchanged, compared to its average volume of 1,706,583. Akamai Technologies, Inc. has a 52 week low of $87.59 and a 52 week high of $129.17. The company has a current ratio of 3.25, a quick ratio of 3.25 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $14.33 billion, a PE ratio of 23.63, a P/E/G ratio of 4.45 and a beta of 0.67. The company’s fifty day simple moving average is $92.49 and its 200 day simple moving average is $105.49.

Akamai Technologies (NASDAQ:AKAM) last issued its earnings results on Friday, May 10th. The technology infrastructure company reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.61 by $0.03. The business had revenue of $986.97 million during the quarter, compared to analyst estimates of $989.03 million. Akamai Technologies had a return on equity of 15.02% and a net margin of 16.12%. Akamai Technologies’s revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 EPS. As a group, analysts forecast that Akamai Technologies, Inc. will post 4.38 EPS for the current year.

Akamai Technologies declared that its board has approved a stock buyback program on Thursday, May 9th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the technology infrastructure company to repurchase up to 13.9% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Akamai Technologies

In other news, CEO F Thomson Leighton bought 22,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was acquired at an average cost of $92.68 per share, with a total value of $2,038,960.00. Following the transaction, the chief executive officer now directly owns 2,342,621 shares in the company, valued at approximately $217,114,114.28. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, EVP Anthony P. Williams sold 5,000 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $93.58, for a total value of $467,900.00. Following the completion of the transaction, the executive vice president now directly owns 9,938 shares of the company’s stock, valued at approximately $929,998.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO F Thomson Leighton purchased 22,000 shares of Akamai Technologies stock in a transaction dated Tuesday, May 14th. The stock was bought at an average cost of $92.68 per share, with a total value of $2,038,960.00. Following the completion of the transaction, the chief executive officer now owns 2,342,621 shares in the company, valued at approximately $217,114,114.28. The disclosure for this purchase can be found here. Insiders sold a total of 9,000 shares of company stock valued at $826,460 in the last ninety days. Corporate insiders own 2.00% of the company’s stock.

About Akamai Technologies

Akamai Technologies, Inc provides cloud computing, security, and content delivery services in the United States and internationally. The company offers cloud solutions to keep infrastructure, websites, applications, application programming interfaces, and users safe from various cyberattacks and online threats while enhancing performance.